TerrAscend Expands Footprint Despite Q3 Losses, Can A Move To Ohio Turn The Tide?
The company recently secured a $140 million senior loan maturing in 2028, carrying a 12.75% interest rate, with no prepayment penalties.
Positive Cash Flow Amid Market Challenges
TerrAscend Corp. (OTC:TSNDF) reported its third-quarter revenue of $74.2 million Wednesday afternoon marking a 4.3% sequential decline, mainly attributed to reduced wholesale sales in New Jersey and retail sales in Michigan. Gross profit totaled $36.2 million, resulting in a gross margin of 48.8%, a slight increase from the previous quarter, driven by operational improvements in Maryland.
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